In my opinion, the MOST important thing you can do is to get the right mindset for going long-term in this business.

I still don't understand the reasoning, but my insurance company paid the employee $30,000 and I get angry because it send a message to all the other employees that there is some fairly decent money to be for going to an attorney, going to a fake doctor a few times and for going to only one deposition that takes about 2 to 3 hours.

Some people who rent do so to forgo the responsibility of owning and maintaining a home.

You have to get tough with the stipulations you put in contracts for what we call a timeline for 'milestones, completion dates and charge-backs to your contractors for going beyond their completion dates.MILESTONES - Contractor will finish demo work by July 7, 2021, or there will be a penalty of $150 per day for non-completion of this milestone starting July 10, 2021 for each day until this milestone is completed.Plumbing and electrical milestone - Contractor will finish installation of plumbing and electrical work by.....or...Many contractors will walk when you present them with this sort of contract, but if your milestones are more than reasonable then deal with the contractors willing to agree with you.

But at the end of the day, I sing my own song. 

The first year cost seg looks like it'll mitigate our capital gains taxes so forgoing another purchase through 1031 would mostly be offset by the MF cost seg (payout of maybe $1k on $50k investment of 1031 funds).My questions to the brain trust are:1. 

It also may not really be worth it to forgo a whole year of rental payments just to get a better rate and lower down payment.

Not many financial planners are brave enough t forgo the heavy commissions of insurance sales, stocks, and commodities like Scott and I would like him to be rewarded and more to take the plunge. 

I am 20 years old and live in Minnesota, I recently got a new job that requires an hour commute so I decided to turn to podcasts instead of listening to the same songs over and over.

The LLC is generally preferred because of the limited liability afforded IF you operate it correctly.If you are all going to be "active," your profits/losses will be split according to the Operating Agreement of your LLC (or Parternship Agreement if for some reason you choose to forgo the LLC and form a partnership).